8,445 Shares in Symbotic Inc. (NASDAQ:SYM) Purchased by Grove Street Fiduciary LLC

Grove Street Fiduciary LLC bought a new stake in shares of Symbotic Inc. (NASDAQ:SYM) in the fourth quarter, Holdings Channel reports. The fund bought 8,445 shares of the company’s stock, valued at approximately $200,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Van ECK Associates Corp boosted its position in Symbotic by 28.4% during the third quarter. Van ECK Associates Corp now owns 3,497 shares of the company’s stock worth $85,000 after acquiring an additional 774 shares during the last quarter. National Bank of Canada FI lifted its stake in Symbotic by 36.8% in the 3rd quarter. National Bank of Canada FI now owns 3,557 shares of the company’s stock worth $87,000 after purchasing an additional 957 shares in the last quarter. RiverPark Advisors LLC boosted its holdings in shares of Symbotic by 147.1% during the 3rd quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock worth $50,000 after purchasing an additional 1,211 shares during the last quarter. Tanaka Capital Management Inc. grew its position in shares of Symbotic by 3.7% in the third quarter. Tanaka Capital Management Inc. now owns 43,092 shares of the company’s stock valued at $1,051,000 after purchasing an additional 1,555 shares in the last quarter. Finally, Quarry LP increased its holdings in shares of Symbotic by 89.9% in the third quarter. Quarry LP now owns 3,508 shares of the company’s stock valued at $86,000 after purchasing an additional 1,661 shares during the last quarter.

Insiders Place Their Bets

In related news, insider Michael David Dunn sold 63,867 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $30.08, for a total value of $1,921,119.36. Following the sale, the insider now owns 24,055 shares of the company’s stock, valued at $723,574.40. This trade represents a 72.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider William M. Boyd III sold 2,660 shares of Symbotic stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $27.60, for a total transaction of $73,416.00. Following the completion of the transaction, the insider now owns 40,812 shares of the company’s stock, valued at $1,126,411.20. This represents a 6.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 109,114 shares of company stock worth $3,238,557 over the last 90 days. Corporate insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Citigroup restated a “buy” rating and issued a $37.00 target price on shares of Symbotic in a report on Monday, January 13th. DA Davidson raised shares of Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 price objective for the company in a report on Wednesday, January 8th. Oppenheimer began coverage on shares of Symbotic in a report on Wednesday, January 15th. They issued an “outperform” rating and a $35.00 target price on the stock. Raymond James downgraded shares of Symbotic from an “outperform” rating to a “market perform” rating in a report on Thursday, February 6th. Finally, UBS Group decreased their price objective on Symbotic from $40.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $38.33.

Symbotic Price Performance

SYM opened at $26.09 on Friday. The stock’s 50-day moving average price is $27.27 and its 200 day moving average price is $26.44. Symbotic Inc. has a 12-month low of $17.11 and a 12-month high of $50.40.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. Analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Symbotic Profile

Symbotic Inc, an automation technology company, engages in developing technologies to improve operating efficiencies in modern warehouses. The company automates the processing of pallets and cases in large warehouses or distribution centers for retail companies. Its systems enhance operations at the front end of the supply chain.